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Am I owed overtime?
Covered employee or independent contractor? Salaried exempt or salaried non-exempt? Whether the FLSA's overtime pay requirements apply to you will depend on your actual job duties performed, not on job titles or contract language.
Why comp time is wrong
If you're an FLSA non-exempt employee who worked over forty hours one week ("overtime"), only to be told that you can take those overtime hours worked as leave at some later time -- and you don't work for the government -- you're likely the victim of an illegal "comp time" overtime policy.